How do I get my business back on track after the pandemic?

Location analytics is taking its place as a key tool for identifying what consumers want and need, regardless of their wealth or demographic status. COVID-19 has led to completely unexpected behavioral changes.

Wednesday, February 2, 2022

How can location intelligence help in the recovery of any type of business?

COVID-19 restrictions have caused many owners to halt expansion plans, limit their operational capacity or even close their doors for good. As the world begins the transition to a post-pandemic society, retailers face unprecedented levels of uncertainty.

The pandemic accelerated the evolution of location data from a competitive advantage to a competitive necessity. Companies need to identify people, assets, and processes in real-time, to be able to analyze what they have discovered to improve both strategic and operational decision making, which is where location data and the insights that can be derived from it take on great importance. Read the full article here



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How to create the best branch expansion strategy?

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To ensure the success of branch expansion strategies for site selection plans, it’s necessary to compare the business model with the the potential market needs and build the corresponding strategy, location and foot traffic analytics are the best tool to do so.

Foot traffic data gives retailers a competitive advantage in site selection by helping to visualize how local market dynamics have changed over a long period of time, uncovering new opportunities and insights in real time that would not necessarily have been evident through more traditional or one-dimensional data sources.

Predictive modeling for site selection strategies

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Retailers need to use predictive modeling and combine it with business, customer, and market data in order to forecast sales or new businesses profitability.

Predictive modeling is a highly effective way to identify a suitable area for expansion strategies, as it has become a vital tool for narrowing down hundreds of potential sites or even a single site. When a potential site is identified, it’s combined with additional layers of data to determine if it meets the model’s requirements, sales performance targets, and other critical factors for any business requirements. Read the full article here

Micro-mobility to determine where to locate retail stores

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Micro-mobility analytics improve retailers’ expansion strategies by accurately identifying consumer demographics, understanding customer behavior, and understanding how their competitors are performing.

Micro-mobility is a methodology that combines geospatial data and foot-traffic analytics to solve several problems and improve site selection strategies by helping to understand how people move around specific brick n’ mortar locations, allowing companies to analyze movement patterns around specific locations, such as retail stores, to extract meaningful information.

Geomarketing & Retail Expansion Plan: Case Study

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Organizations rely on the effective use of big data and geomarketing techniques as the backbone of all their processes and decision making, reducing the risks of new investments associated with expansion plans and new store openings.

At PREDIK Data-Driven we support global corporations to optimize their expansion strategies with 100% data-driven methodologies. One of our clients, a regional sporting goods retail corporation, was able to reduce the risks of its expansion investment plan by relying on solutions generated by mobility analytics, location intelligence, geomarketing and point-of-interest characterization.